Does Crude’s Multi-Year Cycles Portend More Downside? Where Could Decline Reach?

Does Crude’s Multi-Year Cycles Portend More Downside? Where Could Decline Reach?

11/28/18 Weekly Re-Lay Alert: Crude Oil, Unleaded Gas & Heating Oil remain weak and continue to plunge since peaking in early-Oct. while perpetuating a 32 – 34 week low-low-low-(high) Cycle Progression in Crude.  That peak fulfilled monthly & yearly cycles as well, setting the stage for a 6 – 12 month peak.”

Crude Oil has plummeted since peaking in early-Oct. while fulfilling multi-month, multi-quarter & multi-year cycle highs in/around late-Sept. 2018… and also completing the latest phase of Middle East cycles that projected higher oil prices into late-Sept. 2018.

Energy/Equity connection projects early-Dec. rebound high before bearish cycles re-emerge. Crude should reach 1 – 2 year support/downside targets at 47.90 – 48.55/CL and ultimately attack 2 – 3 year support at 42.05 – 42.65/CL before multi-month bottom becomes more likely.

Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.